Audit Services for Local Government Pension Scheme

Audit Services for Local Government Pension Scheme

The strategic objectives of LCIV are to deliver cost savings, provide a broader range of investment opportunities.

United Kingdom-London: Business services: law, marketing, consulting, recruitment, printing and security

2019/S 139-342554

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

London LGPS CIV Ltd
4th Floor, 22 Lavington Street
London
SE1 0NZ
United Kingdom
Contact person: Modely Rungen
Telephone: +44 2080369000
E-mail: modely.rungen@londonciv.org.uk
NUTS code: UK
Internet address(es):Main address: https://londonciv.org.uk/

I.2)Information about joint procurement

The contract is awarded by a central purchasing body

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: https://www.capitalesourcing.com
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://www.capitalesourcing.com
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Body governed by public law

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Audit Services to LCIV, an FCA Authorised Firm, and Funds Managed by It

II.1.2)Main CPV code

79000000

II.1.3)Type of contract

Services

II.1.4)Short description:

London LGPS CIV Ltd (‘London CIV’ or ‘LCIV’) is a Local Government Pension Scheme (LGPS) pool responsible for pooling the investments of 32 London Local Authority (LLAs) pension funds, formed to significantly reduce costs while delivering enhanced overall investment performance. The strategic objectives of LCIV are to deliver cost savings, provide a broader range of investment opportunities, provide transparency and providing improved investment outcomes.

London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and had 8 700 000 000 GBP of assets under management as of 31.5.2019. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an independent auditor.

II.1.5)Estimated total value

Value excluding VAT: 875 000.00 GBP

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:

II.2.2)Additional CPV code(s)

79212300

II.2.3)Place of performance

NUTS code: UKI4

II.2.4)Description of the procurement:

Specific audit services required will include, but will not be limited to:

— planning, management and providing an audit opinion on each annual report and financial statements prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Investment Association SORP or other applicable financial reporting and regulatory framework,

— reporting to management, the Compliance, Audit and Risk (CARCO) Committee and the Board including attendance at meetings as appropriate,

— CASS assurance work, we do not currently hold any client money or assets so this is negative assurance, but this could change in the future,

— rates clearances on fund audits prior to year-end distribution payment.

The contract will be for 5 years with a break clause at year 3. The successful bidder will be expected to demonstrate that they can provide high quality statutory independent audit services.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 60
This contract is subject to renewal: yes
Description of renewals:

The Authority can take an option to break the contract at the end of 36 months.

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no
II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
III.1.2)Economic and financial standing
III.1.3)Technical and professional ability
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession

III.2.2)Contract performance conditions:

Potential service providers will be assessed on the basis of the information provided in response to an invitation to tender.

III.2.3)Information about staff responsible for the performance of the contract

Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Open procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 20/08/2019
Local time: 12:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Duration in months: 3 (from the date stated for receipt of tender)

IV.2.7)Conditions for opening of tenders

Date: 20/08/2019
Local time: 12:01

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: yes
Estimated timing for further notices to be published:

60.

VI.2)Information about electronic workflows
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

London LGPS CIV Ltd
4th Floor, 22 Lavington Street
London
SE1 0NZ
United Kingdom

VI.4.2)Body responsible for mediation procedures

Royal Courts of Justice
London
WC1A 2LL
United Kingdom

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

OJEU procedures include a minimum 10 calendar days standstill period at the point information on the award of the contract is communicated to bidders. This period allows unsuccessful bidders to seek further debriefing from the Contracting Authority before the contract is entered into. If an appeal regarding the award of a contract has not been successfully resolved the Public Contracts Regulations 2015 provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland). Any such action must be brought promptly.

VI.4.4)Service from which information about the review procedure may be obtained

London LGPS CIV Ltd
4th Floor, 22 Lavington Street
London
SE1 0NZ
United Kingdom

VI.5)Date of dispatch of this notice:

17/07/2019